Ibrahim Al-Rashid, CEO of Saudi Arabia’s Social Development Bank 

Ibrahim Al-Rashid
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Updated 10 April 2020

Ibrahim Al-Rashid, CEO of Saudi Arabia’s Social Development Bank 

Ibrahim Al-Rashid is the chief executive officer and a board member of the Social Development Bank (SDB).

As one of the main government pillars for economic and social development funding to Saudis, the SDB recently launched a SR2 billion ($530 million) health care portfolio to support established and new small- and medium-sized enterprises (SMEs) in the Kingdom’s health care sector.

Between 1999 to 2002, Al-Rashid studied at Florida Institute of Technology from where he gained a master’s degree in computer sciences.

In 2006, he worked for Al-Rashed Consultants and Accountants as a consultant before joining the e-Government Program in mid-2007 as director of the e-Gov center.

After a year, he moved to Al-Rajhi Bank where he headed its business relationship management department and in July 2010, he was tasked with running the bank’s IT solutions and development department. He managed the business relationship, vendor management, solutions design and delivery for more than two years.

In September 2012, he was appointed as the chief information officer for the bank and remained in the position for 37 months.

Al-Rashid moved in 2015 to Takamol Holding, a government company targeting and serving individuals and prominent labor segments of the public and private sectors, where he was vice president for two years.

A year later he became the CEO of Rawafid, part of Takamol, and in 2017 moved to the SDB as vice president for micro and SME financing.

He only held the post for four months before being promoted to director general of the SDB.

Tadawul index records highest close since July 2019 on Sunday

Updated 30 November 2020

Tadawul index records highest close since July 2019 on Sunday

  • Total trading reached $3.17 billion

Saudi Arabia’s benchmark Tadawul All Share Index (TASI) rose 0.2 percent, or 15 points, to end at 8,709 points on Sunday, the highest closing since July 2019.

Total trading reached SAR 11.9 billion ($3.17 billion), with the advance-decline ratio at 146:44.

SPIMACO rose 5.5 percent to SAR 43.05. The company signed a non-binding memorandum of understanding with German biopharmaceutical firm, CureVac, to provide COVID-19 vaccine in the Kingdom.

Electrical Industries closed 5.6 percent higher at SAR 24.26, as the firm completed the final phase of share buyback for SAR 7.2 million.

Naseej went limit up to close at SAR 33.

Oil giant Saudi Aramco fell 0.4 percent to SAR 35.75, while banking major Al Rajhi slipped 0.3 percent to SAR 74.

Blue chip SABIC edged down 0.3 percent to SAR 96.50.

Alandulas was the top decliner, shedding nearly 2 percent to SAR 21.08.

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